What is the minimum late fee that Chocolate Bash charges?

According to Chocolate Bash's 2024 Franchise Disclosure Document, the minimum late fee is $30, but it could be higher depending on the law. Specifically, Chocolate Bash may charge a late fee if a franchisee fails to make a required payment when it is due. The late fee will be $100 plus interest on the unpaid amount at a rate equal to 18% per year. However, if such payment exceeds the maximum allowed by law, then interest will be at the highest rate allowed by law. In addition to the interest, Chocolate Bash can charge a minimum of $30, but if that amount exceeds the maximum allowed by law, then the maximum allowed by law will be charged.

This means that if a Chocolate Bash franchisee is late on a payment, they will be charged at least $30. However, the actual late fee could be much higher depending on the amount of the payment that is late and the interest rate that is allowed by law.

It is important to note that Chocolate Bash may also charge franchisees for other expenses, such as attorney fees and court costs, if they are the prevailing party in a legal proceeding. Therefore, it is important for franchisees to make all payments on time and to comply with all of the terms of the franchise agreement.